EV maker Nikola shedding 270 workers

BE desk

Nikola Corp. mentioned on Friday it will lay off a complete of 270 workers, because the electric-truck maker seems to be to shorten prices and sharpen its center of attention at the North American market.

Of the 270 workers impacted, 150 had been supporting Nikola’s Ecu operations and 120 had been primarily based at its websites in Phoenix and Coolidge, Ariz.

The verdict would aid Nikola let fall personnel-related money spend through $50 million once a year, the corporate mentioned.

Annual money utilization for the corporate was once anticipated to cut back on underneath $400 million through 2024, Nikola added.

Nikola’s monetary troubles aren’t distinctive amongst a number of EV startups.

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